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TGS Involved in New Oklahoma 3-D Seismic Projects
“Rigzone” reports that Norwegian seismic contractor TGS will conduct two new 3-D seismic surveys in the Oklahoma portion of the Anadarko Basin. These projects will cover over 1,000 square miles in highly prospective areas. Project “Loyal” will span 589 square miles in Kingfisher and Grady counties. The survey will target the Meramec, Cana Woodford, Woodford… Read More
Oil and Gas Employment and Production Increase in Texas
According to a recent article in “Rigzone”, the Texas Independent Producers and Royalty Owners Association’s (TIPRO) annual “State of Energy Report” discloses that oil and gas industry employment increased by 3% to 1,012,800 nationwide in 2013. This has a disproportionate economic impact because oil and gas workers average $103,400 in salary per year, which is… Read More
Pegasi Commences East Texas Drilling Program
“Rigzone” reports that Pegasi Energy Resources Corp. is drilling the first of ten wells targeting the Travis Peak and Cotton Valley formations in Marion County, Texas. The Tyler based company anticipates drilling as deep as 9,200 feet to exploit gas, condensate and oil reserves. Both vertical and horizontal wells are planned on Pegasi’s acreage. Pacific… Read More
EIA Reduces 2015 Forecast
Last week the U. S. Energy Information Agency (EIA) reduced its 2015 forecast for worldwide oil demand as well as OPEC production, according to a recent article in “Rigzone”. These downward revisions are based on the assumption that there will be surplus supplies next year. In September the EIA forecast global demand at 91.55 barrels… Read More
Efforts to Cut Bakken Flaring Stymied by Regulators
North Dakota’s Bakken shale has become a poster child for the shale revolution. With production that has increased from 321,000 barrels of oil per day (bopd) in 2010 to the current level of 1.1 million it is a stellar example of what technology, innovation and free enterprise can accomplish. Unfortunately, this progress has been marred… Read More
